I can add a bit of at the bar talk without breaking the rules.
Got the background on the partnership that owned Morila. Lets say if they were married, they would have been divorced. Bitter about the breakup and hell bent on making sure neither party prospered. Funds withheld, geos removed, no further drilling as they moved on to their other projects and processing what they had stock piles. Very different market in 2012. When the Doc entered discussions it was already on the market. Marketed as: processing plant, a full work force, replication to be done, and employee benefits to be paid. Price $3 million. Being a geo, he went and looked, and sniffed and thought, deal. By the time all the "incidentals" had been accounted for, we paid 27M. We have all seen that his gut instinct has been spot on. The deal was pulled together when Mali Lithium, with a great asset, was in the pits. Not only did he pull this deal off during Covid, but managed to convince Doc 2 to come back into the real world, restoring old working rivery, but now together on the same project. If you think Doc 1 lights up the room with enthusiasm, get the 2 Docs together, definitely need sunglasses. The Docs think we will be impressed with drilling reports that will be coming on a regular basis moving forward. They plan to expand the drilling program to put us on the radars of the instos.
Lithium. Couldn't say much due to the circumstances. Question, Do you think you got value from bringing Macquarie into the negotiations? The values being discussed increased, Was there multi country interest? Yes. Was Europe one of the players? Yes. Doc said "Let me ask you a question, where are the processing plants? Do you want the quickest and best return for the Lithium we hold?"
I'll leave it at that,
Thanks Doc 2 for the beer. Enjoyed the meeting and feeling the enthusiasm this board has for this company.
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